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Apr 21, 2010
04/10
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bank of the america now includes merrill lithuania. bank of america now includes merrill lynch. wells fargo now has wachovia. these were were big. we put the regulation n we changed the laws. now they are bigger. as he says, 63% -- their assets are 63% of the gross domestic product of this country. 15 years ago they were 17% of gross domestic product. what do we have d.o.d. h. to do before someone sends the message that these things are too big understand that this congress, not pass the buck to the regulators who didn't do the job in the past and let me just say this. i think the world of our regulators now. i don't think they're people regulating now that who baiive basically believe we shouldn't regulate. we made a dishaition helped us through three generation. what do we do with senators on the floor passing legislation based on the fact i trust my regulators now. why aren't we passing legislation that will work over the next two or three generations? something that will work whether we get a president that believes we should have market or not, whether we have a good regula
bank of the america now includes merrill lithuania. bank of america now includes merrill lynch. wells fargo now has wachovia. these were were big. we put the regulation n we changed the laws. now they are bigger. as he says, 63% -- their assets are 63% of the gross domestic product of this country. 15 years ago they were 17% of gross domestic product. what do we have d.o.d. h. to do before someone sends the message that these things are too big understand that this congress, not pass the buck...
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Apr 27, 2010
04/10
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the reason the numbers changed at the aging of america. and it's going to keep going up because america is going to continue to age. relative to the total population. so we're at 50% of the population as chronic and complex disease. that 50% -- and i'm sure dan ran his numbers. he would see that with his own group here in michigan. of the 50% -- that 50% of the population spends 96% of the drug money and 75% of the medical money. right? so if you do the math on 2.4 trillion you're talking about 1.9 trillion is spent on people with chronic and complex disease. and it's estimated right now today that for that 1.9 trillion we spend, we waste about $350 billion a year. tied to the poor management of chronic and complex disease. so you might say well, how is it wasted? there are two key ways. number one, patients stop doing what the doctor tells them to do in less than a year. so if a doctor says i'm sorry, mrs. jones, you have diabetes, here is what you need to do to stay stable and healthy, here are the meds you need to do and here's what you
the reason the numbers changed at the aging of america. and it's going to keep going up because america is going to continue to age. relative to the total population. so we're at 50% of the population as chronic and complex disease. that 50% -- and i'm sure dan ran his numbers. he would see that with his own group here in michigan. of the 50% -- that 50% of the population spends 96% of the drug money and 75% of the medical money. right? so if you do the math on 2.4 trillion you're talking about...
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Apr 22, 2010
04/10
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>> that's true of much of latin america. i live for two years in central america and the local law enforcement has varied little affect if it exists. the people have a very deep respect and often eighth year of military in those countries and so the military presence creates a whole new spectrum of deterrent, the level of deterrent just by being visible in the culture and the mindset of the people coming north. >> mayor. >> yes, sir, senator i would favor the guard at the border however i would ask for them not to disturb the quality of life of our community but probably even more so i would support allocating more funds to cbp to have more agents of the facilities as well for them to be more efficient with legal crossings. >> i think the witnesses and i thank you mr. chairman for your patience and holding this hearing and coming to arizona as you did a year ago and your commitment and concern for the people who of my state, but also the people of this nation as dennis burke noted job there was a network that reaches all ove
>> that's true of much of latin america. i live for two years in central america and the local law enforcement has varied little affect if it exists. the people have a very deep respect and often eighth year of military in those countries and so the military presence creates a whole new spectrum of deterrent, the level of deterrent just by being visible in the culture and the mindset of the people coming north. >> mayor. >> yes, sir, senator i would favor the guard at the...
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Apr 28, 2010
04/10
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that's what's happening to the average household in america. the median household in america. well, let's see what was happening to our friends on wall street then. well, let's see what happened on wall street. well, just as we were stagnating and median household income from about 1990 on, look what happened to the the average wall street bonus. huge. wall street compensation skyrocketed nearly 300% during this period of time. since 1990, the average wall street bonus -- i'm not even talking about salary, i'm talking about bonuses -- soared from about $50,000 in the early 1990's to the $200,000 in 1996. now, go out to talk to our constituents and the main street business people that run our shops and talk to anybody out in america today. did their income increase 300% during that period of time? no. it stayed level. but look at the bonuses. and that's just the bonuses. i'm not talking even about their salaries. this is bonuses. well, i dwell on this and i point this out, mr. president, because i think it points to a larger issue. in my view a big reason for the financial coll
that's what's happening to the average household in america. the median household in america. well, let's see what was happening to our friends on wall street then. well, let's see what happened on wall street. well, just as we were stagnating and median household income from about 1990 on, look what happened to the the average wall street bonus. huge. wall street compensation skyrocketed nearly 300% during this period of time. since 1990, the average wall street bonus -- i'm not even talking...
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Apr 16, 2010
04/10
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thank you for the opportunity discussed bank of america's low modification performance. providing solutions to distressed borrowers remains a critical focus and in the past two years we have helped more than 560,000 customers with a permanent modification, including 33,000 under the home affordable modification program. modifications efforts have been successful in helping many customers stay in their homes, but there is a limit to what the current programs can accomplish. today, i'd like to discuss a number of customers that we believe we can still assist with h.a.m.p. as was focus on the role of principal reductions and second liens. in our total portfolio, 14 million phones, bank of america has 1st million mortgage customers who are more than 60 days delinquent. of that number, 621,000 customers are eligible for a mortgage modification through h.a.m.p. we arrive at that number by subtracting customers for whom h.a.m.p. was not intended that this includes those with non-on occupied or vacant homes, the unemployed, and customers with a debt to income ratio less than 31%
thank you for the opportunity discussed bank of america's low modification performance. providing solutions to distressed borrowers remains a critical focus and in the past two years we have helped more than 560,000 customers with a permanent modification, including 33,000 under the home affordable modification program. modifications efforts have been successful in helping many customers stay in their homes, but there is a limit to what the current programs can accomplish. today, i'd like to...
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Apr 26, 2010
04/10
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no disrespect but i do have to go to bank of america. let me compliment you on this principal reduction program. i think that when businesses do well, we have to acknowledge it. and you should be complemented. >> there will be no demonstrations. >> tell us briefly why you see principal reduction, as
no disrespect but i do have to go to bank of america. let me compliment you on this principal reduction program. i think that when businesses do well, we have to acknowledge it. and you should be complemented. >> there will be no demonstrations. >> tell us briefly why you see principal reduction, as
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Apr 20, 2010
04/10
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america's reach into space is linked with america tofs training of scientists and mathematicians who will drive our 21st century innovations. and i know there is no one in the senate any more commited to stem education than you, madam chair. that is why i've chosen this week to honor a great federal employee from nasa who dedicated her career to promoting stem education. dorothy metcalf lindenberger, dottie took an unusual path to space. as a child she was always interested in space exploration. when she lost a trip to space camp, her parents saved up money for her to go. it turned out to be an excellent investment not only in her daughter's future but in the many students she inspired. she pursued her love of science in college where she majored in college. she began teaching in hudson bay high school in vancouver, washington, in 1999. in her five years there as a science teacher, she won awards for achievement an avid marathon runner, dottie coached the school's cross country team. in 2003 one of her students asked the question that would change her life. the student curiously aske
america's reach into space is linked with america tofs training of scientists and mathematicians who will drive our 21st century innovations. and i know there is no one in the senate any more commited to stem education than you, madam chair. that is why i've chosen this week to honor a great federal employee from nasa who dedicated her career to promoting stem education. dorothy metcalf lindenberger, dottie took an unusual path to space. as a child she was always interested in space...
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Apr 27, 2010
04/10
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the problem isn't that these executives got rich without contributing to america. the problem, madam president, is that these executives got rich betting against america. they did it in secret, where no one could see what they were doing, let alone stop them until it was too late. they took outrageous risks with money that didn't belong to them because they could, in their view. by the time anyone realized what was going on, the damage they caused to the prosperity of our nation built over the course of generations. madam president, maybe i'm naive, but i just don't believe that any senator wants to be on their side in this debate. you know what? i've seen firsthand the republicans who deeply want to get to this bill and get it done. that's why the legislation we want to bring to the floor reflects broad bipartisan agreement. this bill was not written by this senator alone or a handful of democrats on the committee. this bill was written in large part by the cooperation of my colleagues both democrats and republicans. the bill creates an early warning system so tha
the problem isn't that these executives got rich without contributing to america. the problem, madam president, is that these executives got rich betting against america. they did it in secret, where no one could see what they were doing, let alone stop them until it was too late. they took outrageous risks with money that didn't belong to them because they could, in their view. by the time anyone realized what was going on, the damage they caused to the prosperity of our nation built over the...
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Apr 15, 2010
04/10
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, hundreds of thousands if not millions of people will be gathering into replaces all over america in outrage saying they have had enough and are frustrated and tired. they're tired of taxes and tired of the wasteful and unnecessary corrupting influence of it earmarking and wasteful of spending. whilst the city of pusan to cut its budget 13% last year we hear washington cut domestic spending by 13% and thousands and thousands of earmarks, wasteful programs and it would take me a long time to enumerate. the practice we have a deficit of over $1.4 trillion us, and this year $1.5 trillion. my favorite bumper sticker that i've seen recently is, please don't tell the president what comes after a trillion. so the pig book is a critical importance and with what needs to be tied in. there is a peaceful revolution going on out there. it will be manifested with a lot of the airways between now and next november, but the pig book at really attention and and the citizens against government waste continuously worked tirelessly on behalf of the american taxpayer, i'm very grateful and grateful for
, hundreds of thousands if not millions of people will be gathering into replaces all over america in outrage saying they have had enough and are frustrated and tired. they're tired of taxes and tired of the wasteful and unnecessary corrupting influence of it earmarking and wasteful of spending. whilst the city of pusan to cut its budget 13% last year we hear washington cut domestic spending by 13% and thousands and thousands of earmarks, wasteful programs and it would take me a long time to...
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Apr 14, 2010
04/10
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this is a general with 30 years of distinguished service to america, a patriot, and this is a man who doesn't make the policy at the corps of engineers. this is a commander who executes the policy at the corps of engineers. my colleague is upset with the corps of engineers an is and inning they do some things that the corps cannot and in some cases will not do because it is unwise. some of the demands of my colleague of the corps has been met where the corps felt it appropriate. all they have not yet been funded because that has to be done by an appropriations committee. other demands by my colleague, the comes will not meet and cannot meet and one of the significant demands was brought to the appropriations committee. i opposed it and upon my opposition, the full appropriations committee voted against it. so it is not going to happen. but to hold up a general's rank to major general -- to hold up his promotion and have him now six months behind other generals both in pay and promotion and opportunity is just unfair. it just is not fair. this is not someone who can fix the aches and p
this is a general with 30 years of distinguished service to america, a patriot, and this is a man who doesn't make the policy at the corps of engineers. this is a commander who executes the policy at the corps of engineers. my colleague is upset with the corps of engineers an is and inning they do some things that the corps cannot and in some cases will not do because it is unwise. some of the demands of my colleague of the corps has been met where the corps felt it appropriate. all they have...